CCAGW Urges Oklahoma Senate Appropriations Committee to Support SB 118 | Council For Citizens Against Government Waste

CCAGW Urges Oklahoma Senate Appropriations Committee to Support SB 118

State Action

February 28, 2023

Senate Appropriations Committee
Oklahoma Senate
2300 N Lincoln Boulevard
Oklahoma City, OK 73105

Dear Senator,

On behalf of the 23,174 members and supporters of the Council for Citizens Against Government Waste (CCAGW) in Oklahoma, I urge you to support SB 118, which would establish the General Regulatory Business Program in Oklahoma.  This legislation will allow for greater innovation and competition in the state.

Similar programs, known as regulatory sandboxes, have been established in Arizona, Florida, Kentucky, Nevada, Ohio, South Dakota, Utah, Vermont, West Virginia, and Wyoming and countries around the world.  These innovative programs give businesses relief from burdensome regulations to “test innovative products, services, business models and delivery mechanisms.”  Since the world’s first regulatory sandbox was established by the United Kingdom’s Financial Conduct Authority in 2015, there has been a 40 percent reduction in authorization times, and 80 percent of “successfully tested” businesses remain in operation.  If Oklahoma cuts its red tape, the state’s industries will get similar relief.

SB 118 will open the door to greater innovation in Oklahoma by allowing pioneers to test their “innovative offering” without the burdensome restrictions that would normally create a barrier to entry.  The bill’s one-year sandbox period provides ample time to give consumers the opportunity to use these new products.  It should also increase the number of companies willing to move to Oklahoma to take advantage of the less burdensome regulations and increased opportunity.

Once again, I urge you to support SB 118 to provide a win for Oklahoma businesses and consumers by increasing competition and choice through the establishment of the General Regulatory Business Program.

Tom Schatz
President, CCAGW

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